10/30/2023
The real estate market in Rexburg has long been known for its affordable home prices and slower-paced lifestyle compared to larger metro areas like Boise. However, with rising home prices and demand for housing in Boise, buyers have started looking farther afield to southeastern Idaho for relative bargains.
According to the National Association of Realtors, it's a seller's market. The median active list price of single-family homes in the Rexburg area is up 4.2% month-over-month, at $519,000. The median sold price is $607,450. The median property is taking a little longer to sell, with an average of 40 days on the market, a 150% increase, month-over-month.
The surge in remote work during the pandemic has also brought many new residents to southeastern Idaho from higher-cost states like California. Smaller cities like Idaho Falls and Pocatello offer a mix of urban amenities and access to outdoor recreation. Local economic development groups cite the area's low cost of living, shorter commutes, and quality of life as key draws. Buyers can still find relative bargains compared to Boise or many larger cities.
